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General Dynamics said second-quarter earnings per share rose to $1.01, up from 86 cents in the year-ago quarter. Analysts polled by First Call had expected General Dynamics to earn 98 cents per share.

General Dynamics shares (GD) rose 1 1/16 to 54 1/8 Wednesday.

General Dynamics reported net income of $204 million on revenue of $2.6 billion compared to the year-ago quarter when General Dynamics generated net income of $175 million on revenue of $2.1 billion.

The company’s Gulfstream aerospace division performed well in the second quarter, with profits increasing to $151 million from $116 million in the year-ago quarter.

General Dynamics acknowledged some sales weakness in its combat systems division, where revenue slipped to $288 million from $306 million in the year-ago quarter. Still, General Dynamics said earnings for the combat systems division climbed to $36 million from $34 million last year.

“At the year’s halfway point, we’re right on target to achieve all of our objectives for 2000,” Nicholas Chabraja, General Dynamics’ chairman and chief executive, said in a statement.

General Dynamics sells nuclear submarines, tanks and warships. It also sells Gulfstream business jets.

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